Silver Spring Networks Inc. (NYSE: SSNI) has agreed to acquire California-based Detectent Inc., a provider of utility data analytics solutions. Detectent’s SaaS analyzes data from more than 25 million water, gas, and electricity meters, from more than 20 utility customers across the U.S.
“Energy theft is a multi-billion dollar challenge for the utility industry. Coupled with operational improvements and enhanced customer engagement, there is a growing opportunity to unlock billions of dollars in value by applying data analytics solutions,“ said Michael Madrazo, chief executive officer of Detectent.
Detectent’s solutions will be offered as a stand-alone solution or powered by Silver Spring’s smart grid big data platform, the SilverLink Sensor Network.
The transaction is expected to close in the first quarter of 2015.
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